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Crypto Technicals: BTC/USD extends range trade between major moving averages, bias neutral

Thu, 07 Nov 2019, 06:03 am UTC

BTC/USD chart - Trading View

Exchange - Coinbase

Support: 9169.23 (200-DMA); Resistance: 9584.38 (100-DMA)

Technical Analysis: Bias neutral

BTC/USD is extending sideways grind, trades directionless around 5-DMA.

Price action remains capped between major moving averages and breakout required for clear directional bias.

'Death Cross' keeps scope for weakness in the pair. 200-DMA is major support at 9169. Break below will see downside.

Major trend remains bearish and Stochastics RSI is showing a rollover from overbought levels.

Break below 200-DMA will see dip till 50-DMA at 8658.91. Bearish invalidation above 9690 (Channel top).

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  • Bitcoin (BTC) $8,709.77 (-1.19%)
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